Approximately ____ of Female 15- to 19-Year-Olds in 2008 Reported

question 13

Multiple Choice

Approximately ____ of female 15- to 19-year-olds in 2008 reported being on the pill.

• A) 10%
• B) 30%
• C) 50%
• D) 70%

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Definitions:

Price Elasticity

A measure indicating the extent to which the demand for a merchandise changes following a price adjustment.

Short Run

A period in economics during which at least one input is fixed and cannot be changed by the firm.

Long Run

A period in which all factors of production and costs are variable and companies can enter or exit an industry.

Demand

The quantity of a product or service that consumers are willing and able to purchase at various price levels at a given time.